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2410 Paradise Isle Avenue North Las Vegas, NV 89031

6 Beds 4 Baths 3,223 sqft Built 2001

$470,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $145.83
  • 4 Days on Market
  • MLS # : 2258576
  • Updated Date : 01/02/2021 at 17:28
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,223 sqft
  • Baths : 3 full , 1 half
Listing Agent

The Right Choice Realty

Listing Agent's Description

Absolutely gorgeous 6 bedroom/3.5 bath two story in North Las Vegas! Huge Lot that sits on a quarter acre. Sparking Pool and Spa, Open and functional floor plan, Formal Dining and Living Area, Huge downstairs den/game room with full bar, Custom Kitchen with granite countertops and huge island. Spacious family room, Master Bedroom with Walk out balcony and covered patio. Solar panels that are fully owned and not leased and so much more! Will not last long at this great price!

SEE MORE

MARKET HIGHLIGHTS

  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)
  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)
  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Tierra de las Palmas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Tierra de las Palmas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9621603

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Steve Cozine Elementary School Primary Regular 773 41 5
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Cheyenne High School High Regular 2,212 91 2

Steve Cozine Elementary School

  • Education Level: Primary
  • # of students: 773
  • # of teachers: 41
5
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$423,000$517,000$470,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,734
Property Tax -$361
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$73

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$470,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$25,160

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,230

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,950

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,8004$1,8005$2,230
$2,230
RENT COMPS ANALYSIS
  • 2410 Paradise Isle Avenue North Las Vegas, NV 5
    • 5 beds 5 baths ∙ 3,223 Sqft ∙ Built 2001 5 beds 5 baths ∙ 3,223 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.69
    •  
  • 2421 Paradise Isle Avenue North Las Vegas, NV 1
    • 5 beds 4 baths ∙ 2,876 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,876 Sqft ∙ Built 2001
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.59
    •  
  • 3608 Back Country Drive North Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,877 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,877 Sqft ∙ Built 2004
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.59
    •  
  • 5636 Siena Rose Street North Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,963 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,963 Sqft ∙ Built 2005
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.61
    •  
  • 5527 Megan Faye Street North Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,877 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,877 Sqft ∙ Built 2004
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.63
    •  
PROPERTY LISTING DETAILS
Jade D Buckman
1.702.612.6256
The Right Choice Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258576
Last Updated: 01/02/2021
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